The Nigerian Exchange (NGX) commenced the trading week on a downbeat note, as equities experienced modest selloffs, resulting in a market capitalization loss exceeding ₦21 billion. The All-Share Index dropped marginally by 0.03%, reflecting investor caution ahead of anticipated inflation figures.
The decline was largely driven by profit-taking, especially in the banking sector, which posted a notable 1.99% loss to become the session’s biggest drag on overall performance.
Consequently, investors’ total wealth dipped by ₦21 billion, as the NGX All-Share Index slid by 33.72 basis points to settle at 104,529.62 — representing a 0.03% decline.
Market activity was mixed. The day recorded a 12.16% decrease in trading volume, while the total value of trades inched up by 3.98%. Analysts at Atlass Portfolios Limited noted that around 379.95 million shares valued at ₦10.11 billion were exchanged in 10,791 transactions.
ACCESSCORP topped the activity chart by volume, contributing 13.08% of total trades, followed by ZENITHBANK (12.95%), FIDELITYBK (9.11%), UBA (7.76%), and GTCO (7.25%).
ZENITHBANK led in terms of value traded, representing 26.30% of the day’s total value. On the gainers’ list, ABBEYBDS emerged as the top performer with a 9.95% gain, followed by UPDC (+9.82%), GUINEAINS (+9.52%), VFDGROUP (+9.46%), SOVRENINS (+9.41%), and UACN (+8.93%), among others.
Meanwhile, 24 stocks ended in the red. INTENEGINS led the laggards with a 9.76% decline. Other key decliners included CONHALLPLC (-8.33%), JAPAULGOLD (-7.46%), NEIMETH (-6.94%), FTNCOCOA (-5.26%), and VERITASKAP (-4.72%).
Despite the losses, market breadth ended in positive territory, with 28 gainers versus 24 losers. Sector-wise, performance was largely negative: the banking sector dropped 1.99%, insurance fell by 0.36%, and oil & gas declined 0.19%. However, consumer goods posted a slight gain of 0.08%, while the industrial index closed flat.
As a result, the NGX’s market capitalization shed ₦21.19 billion, falling by 0.03% to wrap up the day at ₦65.69 trillion.
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